Bitcoin is a type of digital crypto-currency used in peer-to-peer transactions. The use of Bitcoin in transactions may eliminate the need for intermediate financial institutes because Bitcoin may enforce authenticity and user anonymity by employing digital signatures. Bitcoin resolves the “double spending” problem (namely, using the same Bitcoin more than once by a same entity in different transactions) using block chaining, wherein a public ledger records all the transactions that occur within the Bitcoin currency system. Every block added to the block chain validates a new set of transactions by compressing a 1024-bit message, which includes a cryptographic root (e.g., the Merkle root) of the transaction along with bits representing other information such as, for example, a time stamp associated with the transaction, a version number, a target, a hash value of the last block in the block chain and a nonce. In particular, each block includes a Secure Hash Algorithm 256 (SHA-256) cryptographic hash of the last block. The process of validating transactions and generating new blocks of the block chain is commonly referred to as Bitcoin mining.
The process of Bitcoin mining is designed to allow the system to come to a consensus in which all nodes in a computer network agree to the same block chain. According to the Bitcoin protocol, the first miner to successfully compute a valid proof-of-work for a block candidate is entitled to add the block to the block chain, and to generate new units of the crypto-currency as a reward. The proof-of-work for a block consists of a nonce value that, when inserted into a designated field in the block, makes the cryptographic hash value of the block meet a certain difficulty target.
Bitcoin mining is typically competitive in nature due to the reward involved. Further, the mining difficulty also increases with time. The competitive and difficult nature of Bitcoin mining has led to the use of processing circuitry designed specifically for Bitcoin mining. Such processing circuitry also requires a dedicated power supply unit. The processing circuitry and power supply unit are generally expensive. Interfacing the processing circuitry with the power supply unit may also require a Printed Circuit Board (PCB) having a number of complex and relatively expensive components. Individual components of the PCB may further be susceptible to failure, thereby reducing the life of a PCB.
Further, the processing circuitry needs to ideally operate without interruption in order to mine effectively. However, in case of any interruption in power, a user is required to manually press a button on the PCB to restore power to the processing circuitry. In cases where the user is located remotely, such manual intervention is not possible immediately, thereby resulting in downtime and thus loss production.
Accordingly, it is desirable to provide a board that is relatively inexpensive and requires no manual intervention in case of a power failure.